Don't Transfer Property Into an LLC Until You Check THIS
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- Опубликовано: 9 июл 2024
- When you're looking to invest in property, one decision you might face is whether to own that property through a limited liability company, or LLC. Understanding the pros and cons of using an LLC can help you make the best choice for your situation.
An LLC is a type of business structure that provides its owners with limited liability protection. This means that if something goes wrong with the property, like a lawsuit from a tenant's injury, the owner's personal assets (like their home or personal bank account) are generally protected. Only the assets within the LLC, like the property itself, would be at risk.
Tiffany Webber is a real estate attorney and owner of Thomas & Webber, a real estate law firm in Mooresville, North Carolina. They handle both commercial and residential real estate closings, estate planning, and business formations.
If you'd like to work with Thomas & Webber, please email info@thomasandwebber.com
00:00 - Realtor Question
00:44 - Advantages of LLC
02:02 - Buy Now or Transfer Later?
04:13 - Cautions 
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"Angela Lynn Schilling" is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment...!
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what specific document or section of the mortgage statement can I see the Due on transfer clause?
SO good
Great topic. I love your information! I am a broker in Cailforina.
Thanks for watching Tracey!
Hi, thanks for this info. Looking into an LLC but we are financing, so the mortgage lender doesnt offer loans to LLC's as they claim this is a commercial loan. How complex is it to transfer title to LLC with a mortgage loan? and cost to do so ? (IL )
In NC its an easy change for a real estate attorney. I'm unfamiliar with IL law.